Tuesday, August 30, 2005

Markets Can't Create Oil: U.S. needs a real national energy policy

Excerpt:"But as the price of gasoline edges toward $3 a gallon, it's time for Americans to start asking serious questions: What if energy - specifically, petroleum - were subject to geological constraints as well as market forces? And what if the world oil market operates in ways that put the United States at a permanent disadvantage?"

"The United States' near-exclusive reliance on the free market to solve the world's energy problems threatens to leave the country unprotected against severe blows to its economy, security and way of life. Americans did not rely on the free market to put astronauts on the moon, or to create a system of universal education. A similarly ambitious effort is needed now to get the nation ready for a future that will require more efficient use of energy and a diversified portfolio of supplies. It's necessary to anticipate the market rather than merely having faith in it, because waiting for the market to do the job means waiting too long."